Wrap Technologies’ (WRAP) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d-) rating on shares of Wrap Technologies (NASDAQ:WRAP) in a report released on Tuesday morning,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of Wrap Technologies from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Wrap Technologies Stock Performance

Wrap Technologies stock opened at $2.35 on Tuesday. The company has a 50 day moving average price of $1.96 and a 200 day moving average price of $1.64. Wrap Technologies has a 52 week low of $1.20 and a 52 week high of $3.00. The firm has a market capitalization of $119.43 million, a price-to-earnings ratio of -11.75 and a beta of 1.39.

Wrap Technologies (NASDAQ:WRAP) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) EPS for the quarter. Wrap Technologies had a negative return on equity of 175.85% and a negative net margin of 285.43%.The firm had revenue of $1.01 million during the quarter.

Insider Buying and Selling at Wrap Technologies

In other news, CEO Scot Cohen sold 96,989 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $1.31, for a total transaction of $127,055.59. Following the transaction, the chief executive officer owned 6,275,356 shares in the company, valued at approximately $8,220,716.36. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WRAP. Thompson Davis & CO. Inc. bought a new position in shares of Wrap Technologies during the 2nd quarter valued at $103,000. XTX Topco Ltd bought a new position in shares of Wrap Technologies during the 2nd quarter valued at $32,000. Finally, Osaic Holdings Inc. raised its holdings in shares of Wrap Technologies by 13.6% during the 2nd quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock valued at $84,000 after purchasing an additional 6,442 shares in the last quarter. Institutional investors own 8.82% of the company’s stock.

Wrap Technologies Company Profile

Wrap Technologies, Inc, a public safety technology and services company, develops policing solutions to law enforcement and security personnel. The company's flagship product is BolaWrap 150, a handheld remote restraint device that discharges a seven and a half-foot Kevlar tether, entangling an individual from a range of 10-25 feet.